MAM
iProspect India gets Divya Ajitkumar as AVP Client Servicing
MUMBAI:iProspect India, the digital performance agency from Dentsu Aegis Network, today announced the appointment of Divya Ajitkumar as Associate Vice President – Client Services. Divya, a digital marketing veteran, comes with a decade-long work experience. She will strategically complement iProspect’s aggressive growth plans as she takes on the lead responsibility of servicing the company’s clients in the Indian market.
iProspect India CEO Vivek Bhargava said, “We gladly welcome Divya to the iProspect team, especially at a crucial juncture wherein we look at accelerating the company’s growth. We are positive that Divya’s unique experience and global exposure will help us explore new digital marketing avenues in an efficient manner, such that it benefits the brand and the company alike. We look forward to expanding our business revenues and bagging more awards in the coming year.”
Commenting on her appointment, Divya Ajitkumar, Associate Vice President – Client Services said, “I’m thrilled to be a part of the energetic iProspect team and one of the leading digital performance agencies in the country today. Client servicing as a profile is extremely close to my heart and I believe my experience will help contribute to the company’s efforts. I’m positive there’s a lot of great work coming up. The Indian market is not an easy one, but I’m up for the challenge and keen to embrace everything it has to offer!”
Divya started her career in digital media in New York and further utilized her curiosity and zeal to succeed in exploring the vast world of digital media. Working across different geographies and verticals throughout her career, her fortes include campaign management, activation, consulting and strategy. Having experienced different work cultures and ethics across the USA and Europe, Divya understands different market segments and has in-depth knowledge in strategizing and pitching. She has shouldered several roles at the Starcom Mediavest Group and worked closely with several top brands including Samsung, Coca-Cola, Walmart, Europcar, Flybe, Aer Lingus, Avon, Honda, CineWorld and RIM.
Brands
PUMA Q1 profit jumps 19.6 per cent to €51.9m despite 6.3 per cent sales decline
Inventory clean-up and cost controls lift earnings as brand navigates transition year
HERZOGENAURACH: PUMA has kicked off 2026 on a steady note, reporting improved profitability in the first quarter even as sales slipped, signalling early progress in what it calls a transition year.
The German sportswear major posted sales of €1,863.8 million in Q1 2026, down 6.3 per cent on a reported basis. On a currency-adjusted basis, the decline was milder at 1.0 per cent, helped by ongoing inventory clearance efforts.
Profitability, however, told a more upbeat story. Gross profit margin rose 60 basis points to 47.7 per cent, driven by the reversal of inventory reserves, lower freight costs and a favourable channel mix. EBIT climbed 19.6 per cent to €51.9 million, despite €-12.6 million in one-time costs linked to a cost efficiency programme. Adjusted EBIT stood at €64.4 million, up from €61.3 million a year earlier.
Net profit from continuing operations surged to €26.5 million, a sharp jump from €1.1 million in Q1 2025, with earnings per share improving to €0.18. The financial result also improved significantly to €-15.6 million from €-38.5 million, aided by currency tailwinds.
Speaking on the performance, PUMA chief executive officer Arthur Hoeld said, “In the first quarter our athletes won 21 medals at the World Athletics Indoor Championships and set national records at the Berlin Half Marathon. Operationally, we were off to a solid start to our transition year in 2026. We have managed to reduce our inventory levels faster than planned, streamlined our product portfolio and addressed operational inefficiencies.”
Inventory reduction remained a central theme. Inventories fell 8.6 per cent to €1,898.0 million, while working capital dropped 9.7 per cent to €1,879.2 million. Trade receivables declined 20.3 per cent and trade payables were down 26.2 per cent, reflecting lower sales and purchasing volumes.
Regionally, performance was mixed. EMEA sales fell 10.4 per cent on a currency-adjusted basis to €774.5 million, impacted by weak demand and geopolitical tensions in the Middle East. The Americas grew 6.1 per cent (currency-adjusted) to €655.6 million, led by a strong 10.5 per cent rise in Latin America, though reported growth was hit by currency fluctuations. Asia Pacific emerged as a bright spot, growing 7.9 per cent to €433.8 million, supported by strong demand in Greater China and Southeast Asia.
By channel, wholesale revenue declined 2.8 per cent (currency-adjusted), while direct-to-consumer sales rose 3.8 per cent to €528.1 million. The DTC share increased to 28.3 per cent from 27.5 per cent last year, reflecting a sharper focus on owned retail and digital channels.
Product-wise, footwear sales dipped 2.3 per cent (currency-adjusted) to €1,089.6 million, though running and training categories showed strong growth. Apparel inched up 0.9 per cent to €546.3 million, aided by football and golf, while accessories remained broadly stable at €227.9 million.
Free cash flow, though still negative at €-201.4 million due to seasonality, improved significantly from €-737.6 million a year ago. Net debt rose to €1,357.6 million, but the company maintained financial flexibility with €1,104.7 million in cash and available credit lines.
Looking ahead, PUMA reaffirmed its full-year outlook. It expects currency-adjusted sales to decline in the low to mid single-digit range, with EBIT projected between €-50 million and €-150 million. Capital expenditure for 2026 is pegged at around €200 million, focused on digital infrastructure and DTC expansion.
PUMA chief executive officer Arthur Hoeld added, “For the remainder of the year, we will continue to focus on improving the quality of our distribution, cost base and cash management. In doing so, we are laying the foundations for future growth.”
With inventory clean-up ahead of schedule and operational efficiencies beginning to show, PUMA appears to be tightening its laces for a stronger run, even as macroeconomic and geopolitical uncertainties continue to test the track ahead.
